Johnston Carmichael has reported double digit growth in revenues to £36.8m on the back of record levels of investment. The firm’s latest financial results for the year ended 31 May 2014 show 10 per cent growth in turnover from £33.4m to £36.8m and a modest rise in net profit before member’s remuneration, which is up to £10.75m compared with £10.57m last year.

Announcing the results, Sandy Manson, chief executive of Johnston Carmichael, said: “The last financial year was one of record investment in our business. We hired more people than ever before taking our total headcount to beyond 600 as we increased the capability of every part of our business. While this investment has impacted our short-term profitability, we now have an ever stronger platform from which to serve the expanding needs of our clients both at home and abroad. This will enable us to continue to pursue our ambitious vision of being the accounting and advisory firm of choice in all our markets.

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